Rukwa Operations
As previously announced, the Company has been focused on stockpiling run of mine coal to mitigate, as far as practicable, impact from the Tanzanian rainy season. A substantial stockpile of run of mine ('ROM') coal was accumulated, but this stockpiled ROM coal has proven difficult to wash due to its moisture content. The production of washed coal is therefore expected to be reduced for as long as the rains continue, which could be for several more months.
The Company continues to explore further opportunities in the Tanzanian coal market as they are presented, with efforts being increased given the robustness of the global coal markets and opportunities currently available within
Edenville is in discussions with the
Edenville's senior management have held constructive discussions in
The Company is continuing to run the day to day operations at Rukwa while continuing discussions with the Commission and looks forward to remedying the outstanding matters concerning the licence in consultation with the Commission on a timely basis.
Update on Dispute with
Since the Company's announcement on
Envirom Debt
As previously reported, the Company reached agreement with Envirom Group AS ('Envirom') for certain costs to be recouped following an earlier aborted acquisition process. The Company has yet to receive any funds. The Company has therefore issued a statutory demand to Envirom in order to seek to obtain recovery of the debt.
Coal Sales
For the period from
Commenting,
Contact:
Tel: +44 (0) 20 7409 3494
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